Art Van Furniture, Inc.
Furnishings Industry Transaction
Art Van Furniture, Inc.
Art Van Furniture, Inc. was founded in 1959 by Mr. Art Van Elslander and is the largest furniture and mattress retailer in the upper Midwest. Art Van operates a total of 110 retail locations in Michigan, Indiana, Ohio and Iowa, including Art Van Showrooms, Clearance Centers, PureSleep Mattress Stores, Art Van Flooring and Scott Shuptrine Interiors. Mr. Van Elslander, in addition to being the founder and chairman of Art Van, was extremely active in Art Van and the overall furnishings industry until well into his 80s, at which time he elected to seek liquidity for himself and for his family members. While the recapitalization transaction, due to its complexity, had multiple legal and financial advisors involved, Mann, Armistead & Epperson, Ltd., who had served as a confidential advisor to Mr. Van Elslander over many years, had the pleasure of serving as Special Advisor to Mr. Van Elslander in this recapitalization transaction with Thomas H. Lee Partners.
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